6. Hedging with Futures (LO4, CFA2) Jed Clampett just dug another oil well, and, as usual, it’s a gusher. Jed estimates that in two months, he’ll have 2 million barrels of crude oil to bring to market. However, Jed would like to lock in the value of this oil at today’s prices because the oil market has been skyrocketing recently. Should Jed buy or sell cr ude oil futures contracts?